‘Controversial’ Conti Board Member Stepping Down

Rolf Koerfer, the top legal advisor to Schaeffler and the Schaeffler family, has agreed to step down from his post on the Continental AG advisory board.

Koerfer was seen as a controversial figure on the Conti board as some shareholders felt he put the interests of Schaeffler ahead of those of Continental AG.

The timetable for Koerfer’s departure for the board has yet to be determined.

Koerfer was seen as a central figure in the departure of several key Continental executives and officers in the wake of Schaeffler’s take-over of the automotive and tire corporation. In recent months, Koerfer had resigned as chairman as the Conti supervisory board.    Tire Review